Why Did GXAI Stock Surge Over 85% In Pre-Market Today?
Synopsis
America First Defense, a company in which Gaxos holds a 20% stake, secured a license for a drone-mounted electronic warfare system.
Shares of Gaxos.ai (GXAI) surged more than 85% in pre-market trading on Thursday after the company said America First Defense, in which it holds a 20% stake, secured a license for the Detachable Drone Highjacker, a drone-mounted electronic warfare system designed to counter hostile drones.
The Detachable Drone Highjacker operates by attaching to a friendly drone to target and neutralize enemy unmanned aircraft systems through cyber operations rather than traditional signal jamming.
Under the licensing agreement, America First Defense plans to further develop and commercialize the technology for defense, security, and critical infrastructure protection applications.
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